University Technology Transfer Benefits the Economy and People Everywhere

Universities substantially contribute to the creation of new jobs. University research sometimes yields a discovery that
has commercial potential or the potential to improve lives. Highly specialized university employees known as technology transfer professionals, manage the complex process to protect discoveries and turn them into a products and services. This is done by licensing the discovery to an existing company or creating a new companyor "startup"to produce the new product. Since 1980, American universities have spun off more than 4,000 startup companies
4,000

companies

153
fda

From 1996 2007, university licensing agreements based on product sales contributed at least $47 billion and as much as $187 billion

to the U.S. GDP.2

Over the past 30 years, 153 new FDA-approved drugs, vaccines, or new indications for existing drugs were discovered through research carried out in public sector research institutions.3 In 2012 alone, universities introduced 591 new products to the marketplace 15,741

Full-time Employees

$36.8 billion in net product sales were generated

and startup companies started by 70 institutions employed 15,741 full-time employees.1

To learn more about technology transfer, visit the Association of University Technology Managers at www.AUTM.net To read stories about innovations developed at universities, visit www.betterworldproject.net.
1 AUTM U.S. Licensing Activity Survey Highlights, August 5, 2013 The Economic Impact of Licensed Commercialized Inventions Originating in University Research, 1996-2007, Biotechnology Industry Organization 3 The Role of Public Sector Research in the Discovery of Drugs and Vaccines, The New England Journal of Medicine, Feb. 10, 2011, authors Ashley J. Stevens, D.Phil., Jonathan J. Jensen, M.B.A., Katrine Wyller, M.B.E., Patrick C. Kilgore, B.S., Sabarni Chatterjee, M.B.A., Ph.D., and Mark L. Rohrbaugh, Ph.D., J.D. 2